Indianapolis industrial market at a glance…

​On
the heels of achieving a new record for occupancy growth last year, the
Indianapolis industrial market set a new construction benchmark this year. A
similar amount of deliveries is already in the pipeline for 2018.

Despite
this record level of construction, the market is in no current danger of
becoming overbuilt. Overall vacancy is up a mere 20 basis points since the end
of 2016 while availability is down 160 basis points. This is thanks to 13.5
million square feet of absorption during the past 24 months, the highest ever
over a two year span.

Record
construction and leasing activity has led asking rents to increase. Overall ask
rates are up 5.5 percent this year after remaining relatively flat since 2012.